What happens if you never make a will?

If you were to not make a will, when you pass away, you will have died ‘intestate’.

Think of a will as a set of statutory rules, which specify how your assets are distributed to family members, and this can be in a fixed order. If you have no family members then your assets will go to the Crown. The real risk of ‘dying intestate’ is that you will have not have a say on who gets what, and after all they are still your belongings! We can understand that if you had some family members whom you would not wish to  inherit your assets, this may be a wise option, but there should always be a better cause than the Crown in our opinion. Even if you were to give the money to charity it would make more sense, so this is why it’s so important to ensure you have a will. Likewise, any people who are not blood relatives, such as unmarried partners, may not receive anything. It is therefore critical that you make a will to avoid this situation if you don’t want your loved one to miss out.

The basics of writing a will

Will writing is a very complex task and that’s why seeking professional legal advice is recommended. For simple wills, writing it yourself is okay, however for more complicated wills hiring a professional will help the process run more smoothly. If you have many possessions, such as property, vehicles, jewellery and cash, you will need to have a clear plan to whom these will get passed on to.

If you have a large family that you wish to add into your will, it is very important that it is clear on who gets what. Which such a lot to consider, you should use a solicitor or a professional will writing service to make sure your will follows the correct guidelines. You would never want your will to be void due to a silly mistake or error, so seeking professional assistance is highly recommended. There is no correct time to write a will, however if you have possessions that you wouldn’t want to lose then writing a will is always recommended.

Things To Remember Before Buying Legal Expenses Insurance

Legal expenses insurance is a worthwhile investment for those who want the financial assurance in regards to future legal costs. However, this often expensive insurance is already included in other polices.

Are Already Covered?

Before buying legal expenses insurance (or any kind of insurance) make sure your car and house insurance policies don’t already include it. Some professional companies also offer free legal advice, so check to see if you are able to receive that too

Make Sure Not To Over-Insure

When purchasing legal expenses insurance, make sure not to over-insure. Certain policies ask for classification as ‘you’ being the person named as the policyholder in the schedule. However, many policies often include partners and members of the family while only asking for the name of one policy holder. For these policies you and your partners and/or family will be covered, so you won’t need to take out other policies to cover them.

Understanding The Basics of Contract Law

Contract law can be a tricky field to navigate. It can only take one small misunderstanding of a statement made for serious problems to occur. Fortunately it can be made much more simple to digest by understanding a few basic concepts.

All businesses deal with contracts, These are legally binding agreements that are enforced and governed by law. Contract law itself governs a wide range of agreements, this includes:

  • Business contracts
  • Employment contracts
  • Service contracts
  • Contracts concerning the sale of goods
  • Real estate contracts
  • Contract law also governs any disagreements, illegal or voidable contracts and drafting documents related to contractual agreements.

When dealing with any contracts it’s important to have a good understanding of the legal document, as well as any related risks or liabilities before signing them. A contract lawyer can be help in understanding and analysing any agreements before they are made.

 

Why Conveyancing Checks Are Important

Conveyancing is the transfer of a legal title from one person to another. Usually carried out by a lawyer, conveyancing is a process used commonly when properties are bought and sold.

During a conveyancing process there are a variety of different checks that have to be done for the process to be a legal transfer.  These checks are important because, they involve making sure that the site is occupied legally, that the property isn’t threatened by any redevelopments in the area or that the property isn’t subject to a compulsory purchase order. All of which are important for people who want their new property purchase to be a legal one.

The Government has plans to introduce online conveyancing which will involve the online registration of land. This will ultimately dispose of the necessity for lengthy background searches and make purchasing property much easier and more secure for the buyer.